South African Minister of Minerals and Energy Phumzile Mlambo-Ngcuka explained that the agreement, signed in Johannesburg by Angola, South Africa, the DRC, Namibia and Botswana, as well as their respective power utilities, also heralded the establishment of the Western Power Corridor (Westcor) company, which will develop, own, manage, maintain, operate and promote the Inga project.
The New Partnership for Africa's Development initiative will tackle the African continent's increased electricity-generation demand, by developing a 3 500-MW hydropower station in the DRC and constructing a hybrid of 500 kV HVDC/400 kV HVAC interconnections of transmission power lines for the supply of power to the five countries. The project also includes building hydropower stations in Angola, in particular on the Kwanza River, with a possible generation capacity of 6 700 MW, and building other hydropower stations in Namibia.
The joint venture also calls for the installation of a broadband telecommunications channel - with greater bandwidth than a voice-grade line - for operation of the international transmission interconnectors and for future business development.
Mlambo-Ngcuka pointed out that Westcor, headquartered in Botswana, is expected to take the venture forward and have “serious milestones” in place within a year, while the project is planned for completion by 2011.
However, Inga III should provide about 1 000 MW capacity in the short- to medium-term, to supplement the SADC region's power needs.
She further stated that other SADC countries, not party to the initial agreement, could come on board at a later stage, and said the MoU makes provision for the empowerment of the five countries' citizens. Currently, each country holds a 20% share in the company and the project, but it is envisaged that participation by the private sector will be possible at a later stage. Initially, each of the countries will contribute $100 000 towards Westcor.
The MoU signed on Friday supersedes the original Inga III agreement signed by four SADC countries, in Durban, in 2002.
Meanwhile, the DRC is currently also searching for potential investors for the rehabilitation of the Inga I and II projects, and would like to see the conclusion of a public-private partnership before the end of the year. It is also likely that the country's Grand Inga hydropower station, with generation capacity of some 40 000 MW, will be developed in parallel with the Inga III project, but this has yet to be finalised.
Potentially, the Inga III hydropower station is expected to produce enough excess electricity for sale to Europe and the Middle East.
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